Ensign Energy Services (TSE:ESI) Shares Down 8.9% – What’s Next?

Ensign Energy Services Inc. (TSE:ESI)’s stock price traded down 8.9% during mid-day trading on Monday . The company traded as low as C$3.59 and last traded at C$3.60. 100,972 shares traded hands during trading, a decline of 66% from the average daily volume of 296,631 shares. The stock had previously closed at C$3.95.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on ESI shares. TD dropped their price target on shares of Ensign Energy Services from C$3.75 to C$3.50 and set a “hold” rating on the stock in a research note on Monday, July 13th. Royal Bank Of Canada increased their price objective on shares of Ensign Energy Services from C$3.50 to C$4.00 and gave the company a “sector perform” rating in a report on Tuesday, April 14th. Finally, ATB Cormark Capital Markets upgraded shares of Ensign Energy Services from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from C$4.00 to C$5.00 in a research report on Tuesday, May 12th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of C$3.75.

Ensign Energy Services Trading Down 9.4%

The firm has a market capitalization of C$659.98 million, a price-to-earnings ratio of -12.34, a PEG ratio of 202.94 and a beta of 1.15. The company has a fifty day moving average price of C$3.77 and a two-hundred day moving average price of C$3.58. The company has a current ratio of 1.31, a quick ratio of 1.30 and a debt-to-equity ratio of 75.31.

Ensign Energy Services (TSE:ESI) last posted its quarterly earnings results on Thursday, May 7th. The company reported C($0.06) EPS for the quarter. Ensign Energy Services had a negative net margin of 3.31% and a negative return on equity of 4.13%. The company had revenue of C$418.03 million during the quarter. As a group, research analysts forecast that Ensign Energy Services Inc. will post 0.2901354 earnings per share for the current fiscal year.

About Ensign Energy Services

Ensign is a global leader in oilfield services, headquartered out of Calgary, Alberta, operating in Canada, the United States and internationally. We are one of the world’s top land-based drilling and well servicing contractors serving crude oil, natural gas, and geothermal operators. Our premium services include contract drilling, directional drilling, underbalanced and managed pressure drilling, rental equipment and well servicing. Please visit our website at www.ensignenergy.com.